Kuwait corporate bank account

Over the past decade, Healy Consultants Group PLC successfully assisted foreign investors secure quality corporate and Islamic banking in Kuwait. While this process is time consuming, Healy Consultants will shelter our Client from the associated administrative challenges.

Engagement challenges

Unfortunately, similar to other Middle East countries, securing timely corporate bank account in Kuwait is a difficult task for investors and bank signatories residing outside of the GCC area. Healy Consultants will project manage the due diligence collection from A to Z, negating the need of micromanagement from our Client;

Kuwait corporate bank account setup is a difficult task when done through a newly formed company, when shareholders, directors and bank signatories reside overseas. Healy Consultants will prepare a business plan for the bank to optimize the probability of corporate bank account approval.

Kuwait banking system

The Kuwaiti banking system boasts 17 commercial banks comprising a mix of local banks, foreign banks, branches and representative offices;

Suitable local banks in Kuwait include: i) Gulf bank of Kuwait and ii) Kuwait international bank. These banks offer increasing competitive services in pursuit of attracting more and more quality international Clients;

Kuwaiti banks focus on Islamic banking which is becoming more and more popular for Muslim investors from around the globe Consequently, Kuwait is becoming a recognized financial centre for investors from Malaysia, Indonesia and Pakistan.

Healy Consultants services

Healy Consultants bank account opening team can open the corporate account within 4 weeks and obtain internet banking approval within the subsequent 3 weeks. Please note that the Kuwaiti bank will require a set of legalized due diligence set to pre-approve a corporate bank account for a foreign bank signatory;

Healy Consultants can open a local business bank account for a foreign company. Many of our Clients use a local business bank account to receive payments and pay suppliers without the need to register a local company. Our fee for this service is US$4,950.

Trade finance

Getting credit in Kuwait is increasingly difficult as the country is ranked 118 in the Doing business report for 2017. This said, Kuwaiti banks are willing to provide finance to local companies if the following conditions are met i) a detailed business plan; ii) availability of security; iii) experience of the business owners iv) the last 3 years’ audited financial statements v) a realistic feasibility study and vi) project strength and weaknesses analysis (SWOT);

We also assist our Clients to secure trade finance services including i) bank guarantees; ii) letters of credit iii) finance against trust receipt and iv) documents against payment and against acceptance;

Healy Consultants will help our Clients to obtain corporate finance in the form of a loan, overdraft or simply preferential credit terms.

Foreign exchange controls

The Central bank of Kuwait does not impose currency exchange control to both local and foreign investors. Consequently, non-residents can freely repatriate funds from the country without any government intervention;

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Testimonial

“Pirster Pte is happy with the work that Healy Consultants undertook for the company. International incorporation can be fraught with opacity, anxiety and vulnerability - especially if it is being done remotely as we did. Healy Consultants worked really hard to make it transparent, straight forward and confidence-inspiring. I look forward to working with Healey Consultants again on future work and happily recommend them to others.”

Fiona Thompson, Managing Director Pirster Pte.

“We had taken Healy Consultants assistance in incorporating our entities in some of the complicated jurisdictions. Their approach right from the beginning has been very systematic, clear and efficient. It has been a pleasure to work with all of them.”

“Thank you Healy Consultants for swiftly project managing my engagement. From the moment I met you in Singapore Healy Consultants attended to my requirements and specific needs. I am more than satisfied with your service. Moreover, your weekly updates allowed me to continue to focus my attention on my global business while trusting you to deliver as promised.”

“Thank you Healy Consultants, you were instrumental in setting up of my Hong Kong based company, the whole process was completed in a professional and timely manner.”

Terry Skews, CEO Brittany Offshore Limited

“Healy Consultants, a professionally managed firm with clear understanding and knowledge about what client expects from them and delivers the same in a professional and timely manner. Kudos to their team.”

“Incorporating any company is comparable to setting the foundation blocks of your new company building, which you aim to build in the best location available. By choosing Healy Consultants you are laying the perfect foundations.”

“The one word that defines Healy Consultants is perfect professionalism. If you have Healy to set up your business abroad, you could focus on the operational overhead and let Healy take care of the rest. From Incorporation to Taxation, it’s a one stop solution. Rest assured, you will have the best people in the Industry working for you and providing you with the best possible information and suggestions.”

Raja Chakraborty, Director Streamlyn Pte. Ltd.

“Thank you Healy Consultants for successfully project managing our business set up in Kuwait, Lebanon, Qatar and Bahrain.”

“When it was time to establish a Space Academy in Singapore, TriVector needed a knowledgeable firm that could not only help us establish our infrastructure, but could also advise on the local and regional business climate. Healy was that firm, which is why we've been satisfied Healy Consultants for almost five years now.”

Timothy F Kauffman, CEO Trivector Services

“Finding the right partner was critical for VESL’s expansion in Asia and working with Healy Consultants has made this possible.”

“Healy Consultants were instrumental in the set up of our company. They have continued to provide exceptional support and advice over the years.”

Susan Gunnery, Managing Director Qudoss Group

“Healy Consultants is the best firm that we have ever worked with. Through our entire business relationship we were satisfied with provided level of quality and services. Healy Consultants have been responsive and detail oriented which has allowed us to stay focused on our business and not getting distracted with small details.”